Young rich list member Paul Fridman to face rape trial

Editor’s Note: Paul Fridman was acquitted of the rape charges against him in December 2011 by the Melbourne County Court.

Melbourne property developer Paul Fridman has been committed to stand trial on rape charges, following accusations from a female acquaintance over an incident at a party.

Fridman, who owns development company Fridcorp, pleaded not guilty to two counts of rape in the Melbourne Magistrate’s Court yesterday before magistrate Susan Wakeling. However, he pleaded guilty to one count of cocaine possession.

Fridman was released on bail and will appear in the Victorian County Court in January.

In September, Fridman was valued at $57 million by BRW magazine for its Young Rich edition. This compares with a valuation of $50 million for the 34-year-old in 2009.

Fridman, who launched his first property development at the age of just 21, launched Fridcorp in 1997.

Fridcorp currently has $250 million worth of developments underway, with a focus on the luxury apartment sector in inner-city Melbourne.

One of Fridcorp’s most prominent investors is venture capitalist Daniel Besen, who is part of the Rich 200 stalwarts, the Besen family.